Global Merger Has NZ Links
27 August 2001
Mi Services Group merges with US e-business company Hesta Corporation to extend global consulting reach and build Oracle skills
UK-owned Mi Services Group has acquired Pennsylvania-based Hesta Corporation in a cash deal worth US$17.5 million plus an equity stake in the enlarged group.
The deal means that Mi Services has added an extra 60 Oracle specialists to its United States IT and e-business services business.
Locally, Mi Services CEO Asia Pacific John Quirk says the move gives his business access to a wider global pool of talent for Australasian projects.
"We will continue to export Kiwi talent using our third world cost structures while delivering top of the range consulting and project management at first world rates. So this acquisition is good for the Australasian operations," Mr Quirk said.
The enlarged group will continue to provide expanded Oracle and Ross ERP Solutions to large organizations in the financial services, discrete manufacturing, building, steel, healthcare and pharmaceutical industry sectors.
Hesta's CEO, Hans Hermans, will join Mi Services' North American management board as executive vice president of operations. All of Hesta's staff will become Mi Services employees.
"Mi Services is the perfect partner for us because it provides both national and international opportunities for our customers and staff," Hermans said. "By pooling our companies and our resources we have a company that can continue to grow and provide solutions that address the real business problems faced by our customers."
The acquisition of Hesta Corporation is the next stage in the international growth of Mi Services Group. Led by Group CEO John Pocock, who ran Druid Group until its acquisition by FI Group (now Xansa Corporation), Mi Services Group now has operations in Europe, Asia Pacific and North America.
Announcing the acquisition of Hesta Corporation, Pocock said: "Our intention is to build a global business that delivers high quality consultancy and business solutions in any region of the world in which our customers operate. Our standard approach, methodology and training programme are designed to build confidence in the success of our solutions - wherever they're delivered. We're more than confident that the acquisition of Hesta Corporation takes us one step further in that direction."
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About Mi Services:
Mi Services Group is a global IT and management consultancy providing services to the pharmaceutical, process manufacturing and utilities industries, and the public sector.
Mi Services Group operates through a network of 20 offices located in major business centres in Europe, USA and Australasia. It employs in excess of 600 people around the world and has an annual turnover of approx. £44 million.